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The retirement age of the Managing Director is 60 years, when the pension benefit is 60% of the pensionable salary.

21 Pension contributions to the CEO, deputy CEO and the members of the board

EUR thousand

Supplementary pension costs

Statutory pension costs

Total

Pension contributions paid during the year

Chairman of the Board

-

-

-

Other Members of the Board

-

-

-

President/CEO 1)

1,583

132

1,715

Deputy CEO

-

-

-

Former Chairmen of the Board

Kalevi Keinänen 2)

40

-

40

Former Presidents/CEO:s

Harri Hollmen 3)

86

-

86

1,709

132

1,841

1) According to his current agreement the Group CEO is entitled to retire in December 2015 when he turns 60. The pension benefit is 60 per cent of his pensionable salary. The pensionable salary includes fixed salary, fringe benefits, holiday pay and short-term incentives and is calculated as an average of two out of the four last full years, where the best and the worst year are left out. To replace the defined benefit supplementary pension agreement stipulated in the service contract for the Group CEO currently in force, a new defined contribution pension agreement will be signed as of 1 January 2016. The annual cost of the agreement for Sampo will be 400,000 euros.

2) Group pension agreement with a retirement age of 60 years and a pension benefit of 66 per cent of the pensionable TyEL-salary (TyEL: Employee's Pension Act). The supplementary cost pertains to a yearly index adjustement.

3) Group pension agreement with a retirement age of 60 and a pension benefit of 60 per cent of the pensionable TyEL-salary. The supplementary cost pertains to a yearly index adjustement.